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16 Apr 2015
EUR/GBP: Downside held, looking for potenial upside to 0.75 - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that they continue to look for EUR/GBP at 0.7155 or 0.7050 after to hold the downside.
"We look for recovery towards the 55 day ma at 0.7307 short term. The market needs to regain resistance offered by the March peak at 0.7385 and the 0.7408 January to further alleviate downside pressure."
"Only if a rise and daily chart close above the 0.7408 January low were to be made, would we have to allow for further upside towards the 0.7500 region to be seen. Currently we view the low at 0.7015 as an interim low and look for some stabilisation and recovery shortly."
"We look for recovery towards the 55 day ma at 0.7307 short term. The market needs to regain resistance offered by the March peak at 0.7385 and the 0.7408 January to further alleviate downside pressure."
"Only if a rise and daily chart close above the 0.7408 January low were to be made, would we have to allow for further upside towards the 0.7500 region to be seen. Currently we view the low at 0.7015 as an interim low and look for some stabilisation and recovery shortly."